Vehicle scrappage policy soon; road construction worth Rs 15 lakh cr in next 2 yrs: Gadkari

The vehicle scrappage policy is likely to be finalised soon to boost the automobile sector, Union Minister Nitin Gadkari said on Thursday.

The road transport and highways minister also said that his ministry has fixed a target to build highways worth Rs 15 lakh crore in the next two years.

"The scrapping policy will be finalised soon. It is going to boost the industry. It is going to reduce the production cost. Yesterday also, I had a discussion with the Secretary and we will make it as early as possible," Gadkari said in a video conference with the members of SIAM (Society of Indian Automobile Manufacturers) Institute over impact of COVID-19 on the automobile sector.

Finance Minister Nirmala Sitharaman in February had said that a policy for scrapping of old vehicles "is in the works" and will be announced after concerned ministries "fine tune" it.

The much-awaited vehicle scrappage policy is awaiting final clearance from the Union Cabinet, which will focus on eliminating the fleet of